Lendscape launches data-driven solution for invoice finance

Lendscape has announced the launch of Lendscape CONNECT, a solution designed to widen access to invoice finance by removing the traditional barriers involved for lenders and their clients.

Lendscape CONNECT brings together open accounting technology and advanced Shadow Ledger functionality to digitalise and automate the invoice finance operations for banks and lenders, driving down costs while providing improved risk control.

Available on the Lendscape platform, the new solution promises to completely remove the burden of month-end reconciliations, saving lenders up to four hours per client each month.

“Invoice finance can be a cashflow lifeline but has been hindered by complex manual processes that can be cumbersome for lenders to manage, and more intrusive for businesses than alternatives like overdrafts and term loans,” said Carolyn Goddard, Head of Product at Lendscape.

“With Lendscape CONNECT, we’ve tackled these issues head-on. Our new solution gives lenders secure, direct access to live data from their clients’ accounting systems and a detailed view of the sales ledger that always aligns with their clients’ records. This eliminates time-consuming month-end reconciliations and removes the client burden of manually uploading debtors and invoices.”

Kevin Day, CEO of Lendscape, remarked, “Lendscape CONNECT is a true game-changer, combining the day-to-day simplicity of invoice discounting with the robust risk control typical of factoring. Lenders are now equipped to offer light-touch, non-invasive invoice finance to a wider range of clients, achieving precise, timely risk management without the need for human intervention.”

He added, “We expect that this will enable lenders to strike the optimal balance of cost, risk and service in their invoice finance operations, fostering increased adoption and satisfying market demand. Lendscape has a proven track record of leveraging cutting-edge technology to address the challenges facing the industry, and Lendscape CONNECT is a milestone in enabling simpler, data-led financing.”

For more information about Lendscape CONNECT, visit https://www.lendscape.com/platform/lendscape-connect/